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OCC Flip-Flopped on Ethics Matter, Reassigned Husband of Bank of America Exec – American Banker

WASHINGTON — When veteran regulator Tim Long announced his retirement from the Office of the Comptroller of the Currency last year, the agency quickly replaced him with David Wilson, its deputy comptroller for credit risk.

To do so, however, officials had to work around the strict ethics rules governing federal employees because Wilson, who would oversee supervision policy for all national banks, is married to a high-level executive at Bank of America.

Wilson recused himself from certain matters directly involving the bank and received an all clear from OCC ethics officials, but barely four months later, he was belatedly reassigned after regulators realized the situation created the perception of a conflict of interest.

Although his objectivity and performance were never called into question, industry observers and ethics lawyers said placing Wilson in the position in the first place feeds the idea that the OCC is not only too close to big banks, but indifferent to the criticism.

via OCC Flip-Flopped on Ethics Matter, Reassigned Husband of Bank of America Exec – American Banker Article.

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